Symbiotics Investments recently issued a loan of USD 7.5 million to Tunisie Leasing and Factoring (TLF) “to further expand its renewable energy and energy-efficient machinery and equipment offerings” for small and medium-sized enterprises (SMEs) in Tunisia. Symbiotics sourced the funding
Search Results for: factoring
MICROCAPITAL BRIEF: UsPlus Borrows $11m from Lendable, Absa to Boost Access to Factoring for SMEs, Including Black-owned, Rural Companies
Verdant Capital, a Mauritius-based corporate finance firm, recently arranged USD 10 million in debt funding from US-based Lendable Asset Management for UsPlus, a South African funder of small and medium-sized enterprises (SMEs). This comes after UsPlus raised
MICROCAPITAL BRIEF: Romanian Fintech Instant Factoring Raises $915k in Equity; Will Expand to Serbia, Boost Invoice Financing for SMEs in Romania
With a new capital injection of EUR 750,000 (USD 915,000) from its current shareholders, Instant Factoring, a Romania-based firm that buys businesses’ accounts receivable, will invest EUR 350,000 (USD 427,000) in expanding to Serbia. During 2021, it expects to buy invoices worth approximately EUR 5 million (USD 6.1 million)
MICROCAPITAL BRIEF: IDB Loans $10m to Factotal for SME Leasing, Factoring, Vendor Finance in Chile, Peru
IDB Invest, the private sector arm of the Inter-American Development Bank (IDB) Group, recently disbursed a four-year loan of USD 10 million to Factotal SA, a Chile-based provider of leasing, factoring and vendor-finance services for small and medium-sized enterprises (SMEs). The deal, which is the fourth between the parties, is
MICROCAPITAL BRIEF: IDB Approves $120m Loan for Chile for Factoring, Cooperatives, Leasing for MSMEs
The Inter-American Development Bank (IDB), a US-based multilateral finance institution that operates in Latin America and the Caribbean, recently approved a loan of USD 120 million to the Chilean government to finance the development of micro-, small, and medium-sized enterprises (MSMEs). The loan is divided into three parts: (1) USD 50 million for factoring to “fund eligible entities that neither belong to nor are associated with banks”; (2) USD 50 million to lend to “eligible Savings and Lending Cooperatives”; and (3) USD 20 million for “eligible leasing companies that neither belong to nor are associated with a bank to help them finance MSMEs…” Factoring is a process whereby a company sells future goods or services at a discount in return for immediate cash.
MICROCAPITAL STORY: The International Finance Corporation (IFC) to Acquire Equity Stake in Chilean Factoring and Lending Company, Factorline
The International Finance Corporation (IFC), a member of the World Bank Group, has announced its intentions to acquire an equity stake in Factorline, the largest non-bank controlled factoring and lending firm in Chile. The IFC plans to invest up to USD 15 million to obtain an 18 percent stake in the Chilean company. This investment, along with a 2.2 billion peso (USD 4.28 million) increase in capital resulting from current shareholder activity, is expected to raise Factorline’s capital base to approximately USD 46 million by the end of September.
MICROCAPITAL BRIEF: Khan Bank Raises $10m in Bond Sale to Vision Microfinance Dual Return Fund to Support Women’s SMEs in Mongolia
Symbiotics Investments, a Switzerland-based investor focused on smaller businesses in low- and middle- income countries, recently facilitated a bond issue channeling USD 10 million to Khan Bank, which serves individuals and companies of all sizes in Mongolia, to support UN Sustainable Development Goal (SDG) 5: Gender Equality. Impact Asset Management (I-AM), a unit of Austria’s C-Quadrat Investment Group, bought the bond through its Vision
MICROCAPITAL BRIEF: G20, SME Finance Forum Showcase Digital Finance Solutions for MSMEs Via Online Database, Seek Submissions
The Group of Twenty (G20), an association of the world’s larger economies, recently released a digital database hosting descriptions of “innovative financial products and services” – other than lending – that are available to micro-, small and medium-sized enterprises (MSMEs) across the globe. The entries are classified as offering Cash Management, Credit Guarantees
MICROCAPITAL BRIEF: MicroVest Loans $4.2m to RoCredit for SME Financing in Romania
US-based asset manager MicroVest recently reported lending EUR 4 million (USD 4.25 million) to RoCredit, a nonbank financial institution serving small and medium-sized enterprises (SMEs) in Romania. Established in 2007 and
MICROCAPITAL BRIEF: Huruma Fund Expands Impact to Mexico, Lending $15m to Mega, ProCredito for Agricultural SMEs
Spain’s Gawa Capital, manager of the public-private Huruma Fund, recently disbursed the fund’s first investments in Mexico, lending EUR 12 million (USD 12 million) to Mega and EUR 3.6 million (USD 3.6 million) to ProCredito, financial services providers whose clients include many agricultural small and medium-sized enterprises (SMEs). Both investees are active in lending intended to minimize the effects of
MICROCAPITAL BRIEF: Grupo Mega Nets $10m for SME Leasing in Mexico via Bond Sale to MicroVest
MicroVest, a debt-focused asset manager owned by US-based DAI Global, recently purchased USD 10 million in bonds from Mexico’s Grupo Mega to support leasing by small and medium-sized enterprises (SMEs), which can help SMEs “remain capital-light [in a way] that
MICROCAPITAL BRIEF: Inmobiliaria Ruba Borrowing Up to $75m from IDB Invest to Increase Access to, Affordability of Housing in Mexico
IDB Invest, a member of the Inter-American Development Bank (IDB) Group, recently agreed to lend MXN 1.5 billion (USD 75 million) to Mexico-based housing developer Inmobiliaria Ruba to expand access to low- and middle-income housing in Mexico. Along with the funding, IDB Invest will assist Ruba in: (1) becoming less impactful on the environment; and (2) strengthening its relationships with smaller suppliers by providing them with short-term finance via “reverse factoring.” One third of the funding from IDB Invest is for
MICROCAPITAL BRIEF: IFC Lending $124m to Absa to Increase Access to Housing in South Africa
The World Bank Group’s International Finance Corporation (IFC) recently agreed to loan Absa Group Limited up to ZAR 2 billion (USD 124 million) to increase access to housing loans for “thousands” of low- and middle-income families in South Africa. In addition to its home country of South Africa,
MICROCAPITAL BRIEF: Tugende Borrows $2.6m to Finance Vehicle Ownership for SMEs in East Africa
Verdant Capital, a Mauritius-based corporate finance firm, recently helped Tugende, a Uganda-based, technology-driven, lease-to-own vehicle financing firm, secure EUR 2.5 million (USD 2.6 million) in debt funding from an unspecified “European impact investor.” In addition
MICROCAPITAL BRIEF: Sanad Fund for MSME Sells 30% Equity Stake in GlobalCorp of Egypt, as Amethis, EBRD, SPE Capital Acquire Controlling Stake
A group of three entities recently acquired majority control of GlobalCorp for Financial Services, an Egyptian provider of leasing and factoring services to small and large enterprises. The buyers are
MICROCAPITAL BRIEF: MicroVest Investing $2.5m in Rentek of Colombia to Help MSMEs Recover from COVID-19 Downturn
MicroVest, a debt-focused asset manager owned by US-based DAI Global, recently agreed to lend USD 2.5 million to Rentek, a Colombian funder of micro-, small and medium-sized enterprises (MSMEs). The goal is to assist Rentek’s clients in recovering from the economic fallout of the COVID-19 pandemic. Founded in 1997, Rentek provides liquidity to businesses via loans, equipment leasing and invoice factoring. It also operates a
MICROCAPITAL BRIEF: Pay-per-use Option from Software Group Targets Smaller FSPs Offering Branchless Banking in Nigeria
Software Group, a Bulgaria-based technology company serving financial services providers (FSPs), recently released a “Fast Track” version of its agency banking software. While the firm’s traditional agency product carries a subscription fee, the new version has a pay-per-use pricing structure, which can be more
MICROCAPITAL BRIEF: Financiera Desyfin of Costa Rica Borrowing $22m from FMO, Partly for Green Lending
Financiera Desyfin, a non-bank financial institution (NBFI) that provides “credit, factoring, and leasing products” in Costa Rica, recently agreed to borrow USD 22.5 million from Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch public-private partnership. A portion of the funds is for “green” projects, such as increasing “energy efficiency, recycling and